Pacific Energy Development Begins Trading on NYSE MKT

September 10, 2013

Since Release

$0.3216

-43.4784

99.27%

Pacific
Energy Development (NYSE: PED), an energy company engaged in the
acquisition and development of strategic high-value energy projects in
the U.S. and Asia, began trading today on the NYSE MKT under the new
ticker symbol “PED” (NYSE: PED).

Frank Ingriselli, President and CEO of Pacific Energy Development,
commented, “Our move onto the NYSE MKT signifies the company’s efforts
to achieve future growth and increase shareholder value by meeting the
highest standards of corporate governance. This listing is a key step in
our growth strategy - one we expect will further enhance the global
visibility of the company and heighten our positioning for future
expansion, development and acquisitions through greater access to the
capital markets.”

In connection with the NYSE MKT listing, the company has named the
following two individuals, both with long-term backgrounds in the oil
and gas industry, to the company’s Board of Directors:

Elizabeth P. Smith has over 30 years of experience in corporate
compliance, investor relations, and law with Texaco Inc. Ms. Smith was
the Vice President - Investor Relations and Shareholder Services, a
position from which she retired following the Texaco-Chevron merger in
2001. Previously, Ms. Smith had held the positions of Corporate
Compliance Officer and Vice President of Corporate Communications for
Texaco Inc.

David C. Crikelair has more than 40 years of experience in the oil and
gas industry, and has broad experience in the areas of corporate
finance, banking, capital markets and financial reporting. Since 2001,
Mr. Crikelair has been the co-owner and Managing Partner of
FrontStreet Partners, LLC, a privately-held energy and real estate
investment firm. Previously, Mr. Crikelair had spent most of his
career with Texaco Inc. and its affiliates, serving in various
financial and operating positions, including Vice President of Texaco
Inc. and Corporate Treasurer.

With the addition of Ms. Smith and Mr. Crikelair to the Board, Michael
Peterson and Jamie Tseng have stepped down from the Board but will
continue to serve in their management capacities as Executive Vice
President and CFO, and Senior Vice President and Managing Director,
respectively, for the Company.

About Pacific Energy Development (PEDEVCO Corp.)

PEDEVCO Corp., d/b/a Pacific Energy Development (NYSE: PED), is a
publicly-traded energy company engaged in the acquisition and
development of strategic, high growth energy projects, including shale
oil and gas assets, in the United States and Asia. The Company’s
principle assets include its Niobrara asset located in the DJ Basin in
Colorado, its Eagle Ford asset in McMullen County, Texas, its North
Sugar Valley asset located in Matagorda County, Texas, and the recently
acquired Mississippian asset located in Comanche, Harper, Barber and
Kiowa Counties, Kansas. Pacific Energy Development is headquartered in
Danville, California, with offices in Houston, Texas and Beijing, China.

Forward-Looking Statements

All statements in this press release that are not based on historical
fact are “forward-looking statements” within the meaning of the Private
Securities Litigation Reform Act of 1995 and the provisions of Section
27A of the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Forward-looking statements
include, without limitation, the timing of the commencement of trading
on the NYSE MKT. While management has based any forward-looking
statements contained herein on its current expectations, the information
on which such expectations were based may change. These forward-looking
statements rely on a number of assumptions concerning future events and
are subject to a number of risks, uncertainties, and other factors, many
of which are outside of the Company’s control, that could cause actual
results to materially differ from such statements. Such risks,
uncertainties, and other factors include, but are not necessarily
limited to, those set forth under Item 1A “Risk Factors” in the
Company’s Annual Report on Form 10-K for the year ended December 31,
2012. The Company operates in a highly competitive and rapidly changing
environment, thus new or unforeseen risks may arise. Accordingly,
investors should not place any reliance on forward-looking statements as
a prediction of actual results. The Company disclaims any intention to,
and undertakes no obligation to, update or revise any forward-looking
statements. Readers are also urged to carefully review and consider the
other various disclosures in the Company’s public filings with the SEC.